 internal revenue service IRS tax news October FBI our extension deadline nears for foreign bank and financial account holders the deadline nears honestly I always thought the deadline was standing still and we were the ones going towards it but no apparently the deadline is the one coming after us well we're just standing here minding our own business which is strange because I didn't think lines could move on their own especially lines that were dead oh no the IRS has sent a stalking slow-moving deadline after me to eat my brains and steal my money or maybe the other way round deadlines being the perfect collection goon because you can't kill something that's already dead just ask my libido after being forced to watch the movie bros just kidding I don't actually know much about the baby it's just a joke here's another one there's a reason the hippie movement failed they tried to speak truth to power I suppose you think you're brave don't you only compared to some and I mean even assuming they knew truth you're that smart let me put it this way have you ever heard of Plato Aristotle Socrates yes morons really speaking truth the powers not how it's done you need to speak truth to the people you mock my pain life is pain highness anyone who says differently is selling something about the lies of power but I do not think it would accept my help since I am only waiting around to kill you that does put a damper on our relationship speaking truth the powers like speaking truth to a slimy lawyer who doesn't believe in truth but only in power we are men of action lies do not become us power through manipulative word games it's a waste of time this is noble sir his wife is crippled children are in the brink of starvation you are a rotten liar before arguing about truth you need to be talking to somebody who agrees with the baseline that truth is actually like a thing we're not just doing this for money we're doing it for a s**t load of money IR 2022-17 for October 6 2022 Washington the internal revenue service today reminds US citizens resident aliens and domestic legal entities that the extension deadline to file their annual report of foreign bank and financial accounts that's the FRFBAR is October 15th for additional information about filing deadlines filers should look to financial crimes enforcement networks that's the FNCEN website there's a link to that here filers who missed the April 15th annual due date earlier this year received an automatic extension until October 15th 2022 to file the FRFBAR they did not need to request the extension who needs to file the bank secrecy act requires us persons to file an FRFBAR if number one they have a financial interest in or signature or other authority over one or more accounts such as a bank account brokerage account mutual fund or other financial account located outside of the United States and I believe this should be number two even though it says number one but I believe this would be number two the aggregate value of all foreign financial accounts exceeds ten thousand dollars fairly low threshold at any time during the calendar year 2021 because of this threshold the IRS encourages US persons with foreign accounts even relatively small ones to check if this filing requirement applies to them so again that is a relatively small line to limit there so might have a lot of people that would need to be filing here so a US person is a citizen or resident of the United States or a domestic legal entity such as a partnership corporation limited liability company estate or trust how to file filers did not filers do not file the FRBAR with their federal income tax return so it's not part of the income tax filing process generally the 2021 FR must be filed electronically with thin sin and is online available through the bsae filing system there's a link to that here website individuals who are unable to e-file their FR must contact thin sin at 800-949-2732 and there's an email address here as well I won't say those a hundred times because there will be a link to this in the description you can check them out on your own you could do that to request an alternative filing method if you can't do the e-filing but the e-filing is probably the easiest thing to do callers from outside the US can contact the helpline at 703-905-3975 again there'll be a link to this in the description so you could check that out on your own avoid penalties that's our goal here we don't like when the iris hits us with the penalty stick so those who don't file an accurate FRBAR when required may be subject to significant civil and criminal penalties that can result in a fine and or imprisonment depending on the facts and circumstances okay okay okay a file a file FRBAR resources on irs.gov there's more links to those resources here you've got the report of foreign bank and financial accounts the FRBAR link details on reporting foreign bank and financial accounts there's a link to that here publication 5569 report of foreign bank and financial accounts that's the FRBAR reference guide there's links to all that stuff here and there'll be a link to this in the description